Attorneys negotiating on behalf of Arthur Hayes, one of four BitMEX executives and co-owners accused of violating the Bank Secrecy Act by U.S. authorities, announced the terms of his proposed voluntary surrender to a court in Hawaii on Jan. April set.
As stated in a letter to the Southern District Court in New York, the attorney’s negotiations with the government on Hayes’s behalf began shortly after his indictment was unsealed in October 2020. The proposed bail terms, which are subject to court approval, provide that Hayes, who has lived in Singapore since January 2020, may be released on a $ 10 million personal note of appreciation, supplemented by $ 1 million Dollar secured in cash and co-signed by his mother.
Other proposed conditions include Hayes ‘hold on a Singapore-US passport and enforcement of an extradition waiver in a form that the government and Hayes’ defense would mutually agree on. Citing logistical challenges related to travel during the COV-19 pandemic, the attorney requests Hayes’ release at the time of his first appearance on April 6, provided the bond is co-signed and he pays the bond within ten days of that date Amount of USD 1 million cash security within five days.
The letter indicates that the US government has contacted the local FBI office in Honolulu to arrange logistics and transportation related to Hayes’ court appearance in Hawaii. Interview procedures for pre-trial services are conducted online and Hayes would have to stay in Hawaii for a quarantine period before returning to Singapore. The attorney suggests that he travel to New York for future court appearances and meetings with his attorneys, as the prosecution requires.
Reportedly, the case against Hayes and his colleagues began on October 1, 2020 when the U.S. Department of Justice filed criminal charges against him and three other senior executives for alleged BSA violations in their operations on the crypto-derivative trading platform BitMEX.
In addition, the Commodity Futures Trading Commission filed a civil enforcement lawsuit against the four men, in this case for alleged anti-money laundering violations.
BitMEX co-owner Ben Delo is also in negotiations for a voluntary surrender in New York by the end of March, subject to the removal of barriers to immigration. Meanwhile, co-owner Greg Dwyer has refused to surrender and is facing extradition proceedings from his current location in Bermuda. The final defendant, Samuel Reed, BitMEX CTO, was released from custody shortly after his arrest in Massachusetts in October with an unsecured $ 5 million bond. He has agreed to follow the criminal procedure.
